LCCI seeks extension in income tax return filing deadline

Faheem-ur-Rehman Saigol, president of the Lahore Chamber of Commerce & Industry, has called on the FBR and the federal government to push back the income tax return filing date for Tax Year 2026. He wants it moved from September 30 to October 31 at the least, arguing the extra time would help taxpayers and boost compliance. The appeal came in a statement issued on Tuesday, according to Business Recorder.

The statement described business conditions as unusually difficult, with domestic firms facing high operating costs while trade and economic prospects abroad remain unclear. Global commerce is under pressure from geopolitical tensions, shifting tariffs and supply chain disruptions. Saigol also cited a recent WTO warning that a more fragmented trading system could carry serious economic costs, and said Pakistan's businesses need greater competitiveness and easier treatment of compliant taxpayers.

Saigol contended that policy should aim to widen the tax net and foster voluntary compliance. In his view, that is preferable to creating needless hurdles for people keen to meet their legal duties.